Russia: Board of Directors Appoints Eduard Khudainatov the President of Rosneft

In accordance with the order of the Russian President Dmitry Medvedev and the directive of the Russian Government, the Board of Directors of Rosneft Oil Company appointed First Vice-President Eduard Khudainatov the President of the Company starting from September 6, 2010.

Prior to his appointment as Rosneft’s President Eduard Khudainatov has been Vice-president of Rosneft and then First Vice-President. He was responsible for exploration, production and strategic projects. Prior to join Rosneft Eduard Khudainatov was the General Director of Severneftegaz, subsidiary of Gazprom, where he successfully implemented the development of Yuzhno-Russkoye field, one of the largest oil and gas fields in Russia. Before Severneftegaz Eduard Khudainatov occupied leading positions in the Russian public authorities, including the Executive Office of the Russian President.

Commenting on the appointment, Rosneft’s Chairman Igor Sechin said: “Rosneft today is the leader of the Russian oil industry. I’m confident that Eduard Khoudainatov has the experience and insights to lead the management team as Rosneft enters its next stage of development.”

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Source: Rosneft, September 8, 2010.